Creating Opportunities in 2021
The lending industry no doubt faced challenges in 2020 which is a result of the Covid-19 pandemic and lockdown measures.
Whilst it’s still hard to predict what the future may look like for lenders and borrowers, we plan on keeping business moving forward. Onyx continues to create opportunities for investors who are looking at refurbishment and development opportunities.
In 2020, we witnessed a sudden change to remote working, which has now subsequently paved the way for a new type of opportunity for investors. Many employees prefer to work from home and are considering continuing to do so as a permanent option. This creates new opportunities for properties to be designed to meet this demand, with some that are being sold within hours of coming onto the market. This demand is further increased by the temporary removal of Stamp Duty until March, designed to revitalise the property market after the first lockdown in spring 2020.
In summary, in 2021, purchasing a property at a lower price which can be renovated could be an extremely smart move for borrowers looking at new opportunities to start their investment plans this year.
“To ensure the business market still moves forward, Onyx has created endless opportunities for investors who are looking at refurbishment and development opportunities”
Dan Richards, CEO of Onyx
Property refurbishment finance can be used for a wide range of project requirements, from small internal changes, through to large extensive projects and are ideal for those who do not have the additional funds needed, however are looking to improve the property and therefore add value.
While it is difficult to predict what will happen in 2021, especially with the turbulent lockdowns, there will always be investment opportunities for borrowers. Onyx is always looking for ways to provide innovative solutions, support, and in a quick and efficient manner, which will help investors reach their ambitions in these challenging times.